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Air India has total outstanding loans of USD9.5bn: Civil Aviation Minister

19-Aug-2011 9:52 AM

India's Civil Aviation Minister Vayalar Ravi stated Air India has total outstanding loans of INR432 billion (USD9.5 billion), as per figures presented to parliament (Reuters/Money Control, 18-Aug-2011). The airline had working capital loans of INR212 billion (USD4.6 billion), and long-term loans of INR220 billion (USD4.8 billion) on fleet acquisition, Mr Ravi said in a written response. Additionally, Air India has vendor dues of INR46 billion (USD1.0 billion).